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Nykaa splits D-Street: Why brokerages are divided on Indias beauty bellwether

The valuation debate around Nykaa has intensified, with two leading brokerages offering very divergent views on the stock within a week. The debate isnt about Nykaas businesseveryone agrees it's one of Indias best consumer internet stories. But how much of its future growth is already priced in?

6 Jan 2026 4:06 pm